OM Group Earnings Soar on Acquisition; Segment Results Weaken

OM Group reported fourth-quarter net income more than doubled, to $50.9 million, or $1.59/share, on sales up 50%, to $438.6 million. Sales and net income rose mostly due to the acquisition of VAC Holdings in August of last year. Adjusted income from continuing operations increased 5% year-on-year, to $23.3 million, or 73 cts/share.   Net sales in the company’s advanced materials segment fell 6.5% year-on-year, to $142 million. Segment operating income fell 45%, to $11.4 million. Specialty chemicals net sales fell 9%, to $100.1 million. Segment...

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